How many renters live in Fayette County, Iowa?
The County of Fayette County has people living in households.
There are renters living in renter households in this County. Renters make up 21.12 percent of the population living in Fayette County.
What is the rental market like in Fayette County, Iowa?
There are an estimated housing units in the Fayette County area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Fayette County, Iowa, there are 1.13 rental units.
What is the vacancy rate for rentals in Fayette County?
The rental vacancy rate in Fayette County is 9 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.
How many rental units are in Fayette County for each bedroom size?
Occupied Rental Units by Size in Fayette County
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 26 | 493 | 629 | 535 | 240 |
Occupied Rental Units by Size in Fayette County
A large number of apartments in Fayette County have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How Much Is Rent in Fayette County
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $584 to $1,463. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $584 |
| One BR | $656 |
| Two BR | $862 |
| Three BR | $1,093 |
| Four BR | $1,463 |
2024 Fair Market Rents in Fayette County, Iowa
How many units are rented at Fair Market Rent (FMR) in Fayette County?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| Studio | 24 | 92 percent |
| One BR | 287 | 58 percent |
| Two BR | 368 | 59 percent |
Rental Units Below FMR in Fayette County, Iowa
How many affordable rental units are in Fayette County?
There are a variety of federal affordable housing programs serving households in Fayette County, Iowa including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | |
| Section 8 Project-Based Rental Assistance | |
| USDA Section 515 Rural Rental Housing |
Tracked Units by Federal Program in Fayette County, Iowa
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Fayette County, Iowa
Fayette County features 127 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Fayette County, Iowa
There are 36 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Fayette County.
Housing Choice Vouchers in Fayette County, Iowa
On average, Section 8 Housing Choice vouchers pay Fayette County landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Fayette County.
The maximum amount a voucher would pay on behalf of a low-income tenant in Fayette County, Iowa for a two-bedroom apartment is between $776 and $948.
Sourced from federal housing data and AffordableHousingOnline.com research.